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23-Ind-A1 Operations Research: December 2017

Nivaar worked solution (AI-drafted; not reviewed by a licensed engineer)

  1. Question 1 EOQ — Special-Storage Inventory Item
  2. Question 2 LP Formulation — Survey Company Bid
  3. Question 3 Tractor Inventory — EOQ and Dynamic-Programming Lot Sizing
  4. Question 4 Newsvendor Model — Christmas Tree Purchasing
  5. Question 5 Queueing — Should the Jewellery Store Add a Second Parking Spot?
  6. Question 6 LP Sensitivity Analysis from a Given Optimal Tableau
  7. Question 7 Integer-Programming Formulation — Automotive Plant Assignment
  8. Question 8 Steady-State Markov Chain — Textbook Buy-Back Cycle
  9. Question 9 Decision Analysis with Sample Information — The Don Harnett Story

Start with Question 1 →

National Exams — December 2017 — 98-Ind-A1 Operations Research. Three-hour, open-book exam (any non-communicating calculator permitted); the paper totals 180 marks across 9 questions (each worth 20) and only 100 marks are required, so a candidate would normally answer 5 — all nine are solved below for completeness.

Reference texts: Hillier & Lieberman, Introduction to Operations Research (11th ed., McGraw-Hill) — linear programming formulation & the simplex method (ch. 3–4), duality & sensitivity analysis (ch. 6), network optimization models (ch. 9), deterministic dynamic programming (ch. 11), integer programming (ch. 12), Markov chains (ch. 16), decision analysis (ch. 15), queueing theory (ch. 17); Nahmias, Production and Operations Analysis (7th ed.) — EOQ with and without planned shortages, the newsvendor (single-period) model (ch. 4–5).